JCI Opens Up To Approaching 5,200, Analyst Recommends Semen Baturaja And Dynamix Shares

Indonesia Stock Exchange Building. (Angga Nugraha / VOI)

JAKARTA - The Jakarta Composite Index (JCI) opened in the green zone on Wednesday, October 14 trading. JCI opened higher by 0.09 percent or 4.71 points to the level of 5,137.28.

Opening trades, 34 stocks rose, 26 stocks fell, and 46 stocks were stagnant. The trading volume was recorded at 90.43 million shares with a transaction value of IDR 82.09 billion.

JCI movement in today's trading is estimated to be restrained by profit taking after yesterday's closing strengthened by 0.78 percent to 5,132 levels.

"Technically, the JCI has the potential to be restrained, overshadowed by profit taking . The range of support-resistance is at the level of 5,100-5,160," said PT Reliance Sekuritas Indonesia Tbk (RELI) analyst, Lanjar Nafi in his research.

So, in the midst of the potential for the JCI to begin to be overshadowed by profit-taking, Lanjar offered a number of shares that market players could observe, namely PT Matahari Department Store (LPPF), PT Semen Baturaja Tbk (SMBR), PT Solusi Bangun Indonesia Tbk (SMCB) , PT PP (Persero) Tbk (PTPP), and PT Perusahaan Gas Negara Tbk (PGAS).

A different view was conveyed by PT Binaartha Parama Sekuritas analyst Muhammad Nafan Aji Gusta Utama, who estimated that JCI would continue the process of increasing.

According to him, there is potential for further strengthening in the JCI movement, so that the index has the opportunity to head to the resistance level. Currently, JCI is trying to stay above the support level of 5.076, while the closest resistance target that is trying to reach is at the position of 5,187.

Thus, Nafan explained, the potential for further strengthening in today's JCI movement could be exploited by investors by accumulating the purchase of shares of PT Indofood CBP Sukses Makmur Tbk (ICBP), PT Indosat Tbk (ISAT), PT Indomobil Sukses Internasional Tbk (IMAS), and PT Medco. Energy Tbk (MEDC).